Uniswap Overtakes Coinbase For The 4th Time In A Row
Key Points:
- Uniswap still looks to be slightly ahead of Coinbase, with trading volume surpassing the largest US exchange for the 4th time in a row.
- The trading volume of both exchanges has fallen deeply since February.
- The recent memecoin movement has also brought about active transactions on decentralized platforms.
Decentralized exchange (DEX) Uniswap beat centralized exchange Coinbase in terms of trading volume in April, marking the fourth consecutive month of this performance.
According to DeFiLlama and CoinGecko statistics, both platforms had roughly $1.2 billion in volume on May 4, but Uniswap grew to $2.2 billion the following day, compared to Coinbase’s $1.3 billion.
Uniswap’s trading volume surpassed Coinbase’s in February, and although both exchanges’ volumes have subsequently decreased, the DEX has stayed ahead of Coinbase.
In April, the DEX handled around $37 billion in transaction value, roughly half of its March number of $70 billion. However, Coinbase’s exchange recorded $34 billion in trade activity in April, down from $49 billion in March.
Uniswap is a decentralized trade mechanism with three variants available on six distinct blockchains, including Ethereum, Arbitrum, and Optimist. Coinbase, on the other hand, solely supports Ethereum and any EVM-compatible networks.
Although the current surge in activity might be linked to the meme coin craze, both platforms have been vying for second place in terms of trading volume since last year. In terms of volume, Uniswap centralized has already eclipsed Coinbase many times in 2022, notably following the bankruptcy of FTX last November, which drove traders away from platforms.
The DEX is the largest decentralized trading platform for users, having quadrupled the number of users in the last seven days compared to its nearest rival, PancakeSwap. According to Dune dashboard statistics, Uniswap represented 61% of all DeFi trade over the previous seven days in March.
Nonetheless, according to Coingecko, Binance continues to be the clear leader, with trading volume over seven times that of the platforms.
The increase in Uniswap volume reflects the rising interest in decentralized exchanges. Although the current increase may be ascribed to the buzz surrounding meme currencies, the DEX’s protocol continues to gain market share due to its many variants on several blockchains, as well as its position as the industry leader in the decentralized trading sector.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
Author
Market
Uniswap Overtakes Coinbase For The 4th Time In A Row
Key Points:
- Uniswap still looks to be slightly ahead of Coinbase, with trading volume surpassing the largest US exchange for the 4th time in a row.
- The trading volume of both exchanges has fallen deeply since February.
- The recent memecoin movement has also brought about active transactions on decentralized platforms.
Decentralized exchange (DEX) Uniswap beat centralized exchange Coinbase in terms of trading volume in April, marking the fourth consecutive month of this performance.
According to DeFiLlama and CoinGecko statistics, both platforms had roughly $1.2 billion in volume on May 4, but Uniswap grew to $2.2 billion the following day, compared to Coinbase’s $1.3 billion.
Uniswap’s trading volume surpassed Coinbase’s in February, and although both exchanges’ volumes have subsequently decreased, the DEX has stayed ahead of Coinbase.
In April, the DEX handled around $37 billion in transaction value, roughly half of its March number of $70 billion. However, Coinbase’s exchange recorded $34 billion in trade activity in April, down from $49 billion in March.
Uniswap is a decentralized trade mechanism with three variants available on six distinct blockchains, including Ethereum, Arbitrum, and Optimist. Coinbase, on the other hand, solely supports Ethereum and any EVM-compatible networks.
Although the current surge in activity might be linked to the meme coin craze, both platforms have been vying for second place in terms of trading volume since last year. In terms of volume, Uniswap centralized has already eclipsed Coinbase many times in 2022, notably following the bankruptcy of FTX last November, which drove traders away from platforms.
The DEX is the largest decentralized trading platform for users, having quadrupled the number of users in the last seven days compared to its nearest rival, PancakeSwap. According to Dune dashboard statistics, Uniswap represented 61% of all DeFi trade over the previous seven days in March.
Nonetheless, according to Coingecko, Binance continues to be the clear leader, with trading volume over seven times that of the platforms.
The increase in Uniswap volume reflects the rising interest in decentralized exchanges. Although the current increase may be ascribed to the buzz surrounding meme currencies, the DEX’s protocol continues to gain market share due to its many variants on several blockchains, as well as its position as the industry leader in the decentralized trading sector.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
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